Nestle said on Tuesday its approach to its 23 percent stake in French cosmetics firm L‘Oreal was unchanged after the death of L‘Oreal heiress Liliane Bettencourt last week triggered speculation of an ownership shake-up.

After Tokyo, French heritage beauty brand L'Officine Universelle Buly continues to expand in Asia, opening a new store in Hong Kong in partnership with Arnault Castel, founder of the Kapok concept stores.